Macroeconomics
13th Edition
ISBN: 9780134735696
Author: PARKIN, Michael
Publisher: Pearson,
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Question
Chapter 28, Problem 12SPA
(a)
To determine
Identify the change in the real GDP in the long run.
(b)
To determine
Identify the price level changes in the long run.
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Students have asked these similar questions
Question
1. Explain why the Aggregate Demand curve is downward sloping .
2. Explain why the Aggregate Supply curve is upward sloping .
3. What determines potential output Yf, and how can the economy exceed Yf in the short run?
4. Explain the Equilibrium condition of Aggregate Expenditure= output Y. How are inventory changes related to AE and Y?
5. Define the multiplier and the marginal propensities to consume (MPC) and save (MPS). What is the relationship between the MPC and the multiplier?
6. Compare and contrast the short run Keynesian and long run Neoclassical views of the aggregate supply and Phillips curves
7. For each the following economies, calculate equilibrium Y*, the multiplier, and the size of the recessionary or inflationary gap, if any.
a. AE= 250 +.75 Y
Yf= 1200
b. AE= 400+ .9 Y
Yf= 3000
c. AE= 300 +. 8Y
Yf=1500
d. AE= 300+ .67 Y
Yf=1000
Which of the following will increase the slope of the demand curve in the goods market to indicate an increase in the level of output and income?
Select one:
a. An increase in autonomous investment.
b. An increase in the marginal propensity to consume.
c. An increase in government spending.
d. An increase in taxation.
Would each of the following lead to a decrease in national income?
a. An increase in imports (Click to select) lead to a decrease in national income.
b. A decrease in interest rates (Click to select) lead to a decrease in national income.
c. A decrease in the money supply (Click to select) lead to a decrease in national income.
d. An increase in the exchange rate (Click to select)
e. A decrease in foreign incomes (Click to select)
(Click to select)
lead to a decrease in national income.
lead to a decrease in national income.
would
would not
Chapter 28 Solutions
Macroeconomics
Ch. 28.1 - Prob. 1RQCh. 28.1 - Prob. 2RQCh. 28.1 - Prob. 3RQCh. 28.2 - Prob. 1RQCh. 28.2 - Prob. 2RQCh. 28.2 - Prob. 3RQCh. 28.2 - Prob. 4RQCh. 28.3 - Prob. 1RQCh. 28.3 - Prob. 2RQCh. 28.3 - Prob. 3RQ
Ch. 28.4 - Prob. 1RQCh. 28.4 - Prob. 2RQCh. 28.4 - Prob. 3RQCh. 28.4 - Prob. 4RQCh. 28 - Prob. 1SPACh. 28 - Prob. 2SPACh. 28 - Prob. 3SPACh. 28 - Prob. 4SPACh. 28 - Prob. 5SPACh. 28 - Prob. 6SPACh. 28 - Prob. 7SPACh. 28 - Prob. 8SPACh. 28 - Prob. 9SPACh. 28 - Prob. 10SPACh. 28 - Prob. 11SPACh. 28 - Prob. 12SPACh. 28 - Prob. 13SPACh. 28 - Prob. 14SPACh. 28 - Prob. 15APACh. 28 - Prob. 16APACh. 28 - Prob. 17APACh. 28 - Prob. 18APACh. 28 - Prob. 19APACh. 28 - Prob. 20APACh. 28 - Prob. 21APACh. 28 - Prob. 22APACh. 28 - Prob. 23APACh. 28 - Prob. 24APACh. 28 - Prob. 25APACh. 28 - Prob. 26APACh. 28 - Prob. 27APACh. 28 - Prob. 28APACh. 28 - Prob. 29APACh. 28 - Prob. 30APACh. 28 - Prob. 31APACh. 28 - Prob. 32APACh. 28 - Prob. 33APACh. 28 - Prob. 34APA
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